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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (21461)	6/17/2005 12:16:50 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78576

Portfolio update - PVD. Largest pension fund provider for the privatized Social security system in Chile. PE around 11, based on somewhat depressed (due to reserve adjustments) 2004 earnings. Dividend yield around 8% ( I believe and P/B around 2. The stock has been stalled for a few years but thanks to the dividend yield one get's paid nicely for waiting. The annual report makes an interesting reading and explains in much detail how the Chilenean pension system works: sec.gov